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Klaipeda FEZ 2020: more investment and significance for the economy.

Klaipeda FEZ 2020: more investment and significance for the economy.

New and existing investors at the Klaipėda Free Economic Zone (FEZ) have factually invested 25.4 million euros over the year 2020, or 38.9 per cent more than the previous year. Throughout this period, the FEZ’s investors paid 64.3 million euros in taxes, which is more than all state support received by them throughout the FEZ’s history.

Last year also saw the launch of new and previously planned investment projects valued at tens of millions of euros – the factories by German giant REHAU and the Estonian ship repair and metal processing group BLRT Grupp, as well as a project by Monaco’s innovative construction material company UAB GRH LT, the development of UAB Vingės Logistika, and other companies. Last year also saw the implementation of investment projects of over 1 million euros by UAB Espersen Lietuva, UAB Orion Global PET, UAB Retal Baltic Films, UAB Mestilla, UAB NEO GROUP, UAB Glassbel Baltic, UAB Fortum Klaipėda, UAB Elektrinio Transporto Sistemos and UAB Autoverslas.

“In this context, the FEZ’s companies achieved fantastic results as a large part of the companies returned to growth and were already back to hiring in the second half of last year. Furthermore, certain signals in the most recent quarters have shown continued expansion in existing and new investment. However, the previous year even further highlighted the importance of focusing on high added-value manufacturing and in this regard, the FEZ management company has new plans: an Industrial Innovation Competence Center for knowledge transfer, experimental manufacturing and digitalisation solution testing, as well as an internet of things, and smart meter and measuring systems alongside other solutions,” says Klaipėda FEZ CEO Eimantas Kiudulas.

Klaipėda FEZ dedicated increased attention last year to nurturing talent, attraction and retention, and pertinence to investors. The first career events were organised, and the FEZ management and individual companies’ partnerships with schools, universities and public sector partners were deepened. Sustainability and community outreach initiatives were also developed, including Lithuania’s first airflow modelling project.

The combined turnover of companies with investor status at Klaipėda FEZ exceeded 926.7 million euros last year, with exports of 477.9 million euros, with these changes mostly due to technical factors.

Over 2020, Klaipėda FEZ’s investors received 2.5 million euros in state aid and throughout the FEZ’s operational history, which totals 62.3 million euros. By the Klaipėda FEZ management company’s calculations, combined state support to companies currently operating at the FEZ was a little lower than the tax contributions they paid within a single year.

By the end of 2020, companies at the Klaipėda FEZ implemented 667 million euros in investment. Another nearly 80 million euros in investment is currently planned, with some already implemented or under implementation this year.

Source: Klaipėda FEZ

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